JAPAN EV TIRE MARKET

KEY FINDINGS

• In 2022, The Japan EV Tire Market, is to report sales volumes of XXM units, to generate a revenue of $XX Billion and in Value
  • • The market is estimated with a CAGR of 16.2%, to reach an overall market volume of XXM units accounting to $XX Billion by 2027 from 2022.

• In 2022, The Average price of Tire by EV Type in Japan is $210 for BEV, $XX for PHEV and $XX for HEV.

• • As of 2022, The Japanese Government Subsidies for the purchase of new EVs are 650k Japanese Yen (US$5,200) for BEVs, 450k Japanese Yen (US$3,600) for PHEVs, and 2.3M Japanese Yen (US$18,500) for FCEVs, which is supposed to include Tires as well, thus helping the buyers afford High price feature rich tires.

• The production volume of Tires in 2020 has decreased drastically due to the influence of COVID-19. 

• In 2019, the production volume was almost the same as 2019, as the Passenger car tyres were almost the same level as the previous year, but light truck tyres and truck & bus tyres slightly increased from the previous year due to the increase in export.

• • Even though the BEV and XX segments are expected to witness a growth, still the XX segment is expected to stay at the top with a market share of XX% till 2027.
    • Thus, Apart from HEV Tires costing lower that of either BEV or PHEV, due to its overall dominance, HEV is to contribute as much as mentioned above.  
  • In Japan, the Top Four players in the market account for ~XX%
    • The top players in the market by market share are Bridgestone with XX%, XX with XX%, XX with XX% and XX with XX%

• Bridgestone has been shifting its focus to the electric vehicle segment of the market. 

• It has made a bold goal for its future, it plans to have EV tires account for 90% of its new automotive tire sales by 2030.

• Continental announced the launch of its Premium Contact 7 Summer Tire, with a size-specific design, Red Chili compound for the tread, and an adaptive tread design.

• Nokian launched new winter tires for van and delivery vehicles called the Hakkapeliitta range.

• Japan's Yokohama Rubber accelerated its push into the industrial and agricultural markets with a $2.31 billion acquisition of Sweden's Trelleborg Wheel Systems.

INTRODUCTION

EVs are typically bulkier over traditionally fuelled vehicles of similar stature. Reduced friction coefficient is also critical inside the EV industry considering endurance is so essential.

Throughout contrast, a 20% decrease in friction coefficient can decrease mobility by 5–8%. However, since electric engines produce much more thrust from this narrow engine speed range, the tire still requires more than enough traction.

However, especially since the majority of car coverage concentrates on electric cars, it's imperative to consider through into particular tires that EVs must utilize.

JAPAN EV TIRE MARKET SEGMENTATION

The Japan EV Tire Market can be segmented into following categories for further analysis.

JAPAN EV TIRE MARKET By EV Type

• HEV
• PHEV
• BEV

JAPAN EV TIRE MARKET By Vehicle Type

• Passenger Vehicle
• Commercial Vehicle

JAPAN EV TIRE MARKET By End Use

• OE
• Replacement

JAPAN EV TIRE MARKET By Tire Type

• Summer
• Winter

JAPAN EV TIRE MARKET DEVELOPMENTS AND INNOVATIONS

JAPAN EV TIRE MARKET NEW PRODUCT DEVELOPMENT

• In December 2022, Bridgestone is adding a new brand to its tire line-up in 2023 with the launch of New no range.
  •  Bridgestone promotes New no as a low fuel consumption tire that offers safer & secure mobility life for customers with low environmental impact. 
• In September 2022, The Goodyear Tire & Rubber Company launched the all-new Goodyear Electric Drive all-season tire and 2 new sizes for its Electric Drive GT.
  • This tire is built for commuter touring sedans and CUVs, making it fit for vehicles like Nissan Leaf, Chevrolet Bolt and Volt and Kia Niro EV.
• In July 2021, Nokian Tires introduced EV Tires in the Japan Market, that are silent and energy efficient. 
  • Nokian Tires' Silent Drive technology achieves a very low tire noise level, and this innovation is utilized in the Nokian Tires Hakkapeliitta R5 EV tires. 

JAPAN EV TIRE MARKET SIZE AND FORECAST

The Japan EV Tire Market accounted for $XX Billion in 2023 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2024 to 2030.

JAPAN EV TIRE MARKET COMPETITIVE LANDSCAPE

Another of the primary reasons driving the industry's development is indeed the growing need to meet future requirements. The electric vehicle market is establishing itself as an important element of the automotive industry, offering a method to attain better levels of energy efficiency while reducing pollution emissions and other greenhouse gases.

Emissions from fossil fuels, as well as coordinated government actions, are among some of the main factors driving market expansion in the area. 

Nokian Tires is a leading mobiliser of the Electric mobility-based tire technology in the market. It has brought in the Nokian Hakkapeliitta 10 EV provides optimal convenience and protection for hybrid cars.

This revolutionary Nokian Hakkapeliitta 10 EV is a revolutionary blend of exceptional winter gripping, riding enjoyment, as well as environmental that provides next-generation protection. Against snowdrifts, Nokian Tires' Double Stud Technology ensures optimum safety.

Pirelli Tires is part of the component manufacture trending companies in the current industry.  The Elect series of tires have been part of the technology consisting of the tire does indeed have a low frictional resistance, therefore extends operating distance, and minimizes power consumption, reducing the need for multiple stops at fully electric recharging.

This Pirelli Elect series, especially combined with a high-range automobile such as the Lucid Air Dream Edition and Tesla Model S All-Wheel Drive, reduces roadway friction, rendering these automobiles extremely economical.

JAPAN EV TIRE MARKET COMPANIES PROFILED

• Hankook Tires
• Sumitomo Tires
• Nichon Michelin Tyres
• Goodyear Tyres
• Yokohama Tires
• Bridgestone Tires
• Toyo Tires

THIS JAPAN EV TIRE MARKET REPORT WILL ANSWER FOLLOWING QUESTIONS

1. What is the average selling price in the Japan EV Tire Market right now and how will it change in the next 5-6 years? 
2. Market share of Japan EV Tire Market manufacturers and their upcoming products
3. Cost advantage for OEMs who manufacture Japan EV Tire Market in-house.
4. 5 key predictions for next 5 years in Japan EV Tire Market
5. Latest trends in Japan EV Tire Market, by every market segment
6. The market size (both volume and value) of Japan EV Tire Market in 2024-2030 and every year in between
7. Global production breakup of Japan EV Tire Market, by suppliers and their OEM relationship
8. What is happening overall in the Japan EV Tire Market.
9. Who are the major players in the Japan EV Tire Market?
10. What are the business opportunities in the Japan EV Tire Market?
11. What is the target group ?
12. What are the strategies for the Japan EV Tire Market in the next 5 years?